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European stocks set for seventh straight weekly win

European shares were on course to post their seventh consecutive weekly gain on Friday boosted by deal activity and rise in mining sector.

Photo: Reuters

The pan-European STOXX 600 index inched up 0.1% to 392.20.

Germany’s DAX 30 index slid 0.1% to 13,056.00, and France’s CAC 40 index dropped 0.3% to 5,529.68. The UK’s FTSE 100 index shed 0.1% to 7,695.48.

Saint-Gobain shares gained 2.8 percent as the French company plans to buy a minority stake in Swiss adhesives maker Sika for $3.2 billion.

Shares of the third-largest Italian bank Monte dei Paschi jumped 9.9% as Italian lender reported a 188 million euros rise in first-quarter net profit.

Shares in ArcelorMittal surged 2.3% after the steelmaker posted a rise of $1.19 billion in first-quarter net profit.

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